Great blog posts about macroeconomics

Gender Wage Gap

Even in today’s world, there is still a gap in wages made by men and women. People like to think today that there is equality in the work place between men and women, but statistics show that this is simply not the case. Men make more than women at almost every level, and in 2013 a woman in the same position as a male would only make 78.3 percent of that of a man. The difference is the most prevalent at higher paid jobs, where women make significantly less of an hourly wage then do men.

In analyzing this data more closely, and breaking down wage rates based on education levels, the results are consistent with this phenomenon. At every level of education, from a less than high school degree all the way up to an advanced degree, men make more money than women.

Hourly wages by gender and education, 2014

Source: EPI analysis of Current Population Survey Outgoing Rotation Group microdata

The hourly wages for women are significantly less than that of men, with the highest degrees earning women more than ten dollars less than men. The Equal Pay Act was signed in 1963, and prior to this the gap in wages was much worse than it was after the act was established. Progress has been made in making wages more equal, but there is still more to be done. Advocates for this cause are calling for more rules and regulations that do not allow for gender discrimination in the workplace that will deal with hiring, promotions, wage rates and any other cases that deal with gender discrimination. Enforcement will also be important, as laws do not have any bearing if they are not enforced. Supporters hope to build on the foundation made by the Equal Pay Act and continue to make progress in getting wages to an equal level.

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One thought on “Gender Wage Gap”

There is some data suggesting that for newer entrants into the labor market, the differentials are much lower. This at least gives some hope that as the current generation of workers retires, it will be replaced with one with greater income equality.